NESR secures its first multi-year Directional Drilling services Contract in Saudi Arabia

NESR secures its first multi-year Directional Drilling services Contract in Saudi Arabia

DHAHRAN, Saudi Arabia--(BUSINESS WIRE/AETOSWire)-- National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, has announced that the company has been awarded a long term contract for Directional Drilling services in the Kingdom of Saudi Arabia, covering Directional Drilling ("DD"), Measurement while Drilling ("MWD"), Performance Drilling, Well Engineering and Logging While Drilling ("LWD") services for up to four years starting with immediate effect.

This award reflects the culmination of several years of research and development investment in several field trials to demonstrate NESR's ability to drill and deliver vertical and directional wellbores in record times with leading-edge technologies. Over the last year, NESR's successful partnership with Phoenix Technology Services (PHX Energy Service Corp. or "PHX") has led to several DD records across several fields which have saved significant drilling time for customers. This award also provides NESR the platform for the introduction of next generation technologies in the drilling and measurement spheres which the Company anticipates introducing over the course of this contract.

NESR CEO & Chairman Sherif Foda commented, "These awards represent a major milestone in our growth strategy to establish NESR as one